Reports have shown that over 287 ICO projects filled Form D exemption with the Securities Exchange Commission (SEC) which is a form that discloses crucial information about the companies carrying out the projects.
The 287 projects that applied for Form D exemption had a combined wealth of about $8.7 billion which showed a 550% increase compared to the 44 projects in 2017.
The crypto community continues to urge the SEC to properly define what financial instruments fall under securities especially when it comes to cryptocurrencies.